Douglas Holding Plans to Team Up With PE Firms

(Reuters) – Douglas Holding Chief Executive Henning Kreke said his family is teaming up with buyout firms with the aim of raising its stake in the company. Douglas, which has a market value of about 1.2 billion euros ($1.5 billion), earlier on Thursday said that unspecified board members with major holdings were in talks with several financial investors for a substantial stake in the company.

(Reuters) – Douglas Holding Chief Executive Henning Kreke said his family is teaming up with buyout firms with the aim of raising its stake in the company.

“The Kreke family fully backs the Douglas Group and is considering, raising its stake jointly with financial investors,” the CEO told Reuters in e-mailed comments on Thursday.

Douglas, which has a market value of about 1.2 billion euros ($1.5 billion), earlier on Thursday said that unspecified board members with major holdings were in talks with several financial investors for a substantial stake in the company.

The Wall Street Journal earlier reported that Kreke’s family had approached three buyout firms including Apax Partners and BC Partners to discuss possible plans to take Douglas private.